Fred Alger Management LLC Purchases 150,258 Shares of First Advantage Co. (NYSE:FA)

Fred Alger Management LLC lifted its stake in shares of First Advantage Co. (NYSE:FA - Free Report) by 14.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,167,486 shares of the company's stock after buying an additional 150,258 shares during the quarter. Fred Alger Management LLC owned about 0.68% of First Advantage worth $21,867,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Barclays PLC grew its position in First Advantage by 57.3% in the 3rd quarter. Barclays PLC now owns 81,669 shares of the company's stock valued at $1,621,000 after purchasing an additional 29,752 shares during the period. Vanguard Group Inc. grew its position in First Advantage by 48.0% in the 4th quarter. Vanguard Group Inc. now owns 7,425,305 shares of the company's stock valued at $139,076,000 after purchasing an additional 2,409,233 shares during the period. Truist Financial Corp grew its position in First Advantage by 37.4% in the 4th quarter. Truist Financial Corp now owns 19,095 shares of the company's stock valued at $358,000 after purchasing an additional 5,197 shares during the period. Cortland Associates Inc. MO acquired a new stake in First Advantage in the 4th quarter valued at $24,328,000. Finally, New York State Common Retirement Fund grew its position in First Advantage by 29.8% in the 4th quarter. New York State Common Retirement Fund now owns 387,320 shares of the company's stock valued at $7,255,000 after purchasing an additional 88,914 shares during the period. Institutional investors and hedge funds own 94.91% of the company's stock.

First Advantage Stock Performance

Shares of NYSE:FA traded down $0.17 during midday trading on Friday, reaching $17.66. The company had a trading volume of 1,776,502 shares, compared to its average volume of 795,522. The company's 50 day moving average price is $14.06 and its 200 day moving average price is $16.97. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 0.61. The stock has a market cap of $3.07 billion, a P/E ratio of 588.67 and a beta of 1.20. First Advantage Co. has a 52-week low of $12.32 and a 52-week high of $20.79.

First Advantage (NYSE:FA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.04. First Advantage had a net margin of 0.65% and a return on equity of 13.16%. The firm's revenue was up 109.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. As a group, sell-side analysts anticipate that First Advantage Co. will post 0.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FA. Barclays reissued an "equal weight" rating and issued a $15.00 price target (down previously from $20.00) on shares of First Advantage in a research report on Thursday, April 10th. BMO Capital Markets cut their price objective on shares of First Advantage from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Royal Bank of Canada downgraded shares of First Advantage from an "outperform" rating to a "sector perform" rating and set a $20.00 price objective on the stock. in a report on Friday. Finally, William Blair reaffirmed an "outperform" rating on shares of First Advantage in a report on Friday, February 28th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, First Advantage presently has an average rating of "Hold" and an average price target of $65.40.

About First Advantage

First Advantage Corporation provides employment background screening, identity, and verification solutions worldwide. It offers pre-onboarding products and solutions, such as criminal background checks, drug/health screening, extended workforce screening, FBI channeling, identity checks and biometric fraud mitigation tools, education/work history verification, driver records and compliance, healthcare credentials, executive screening, and other screening products.